Metropolitan Bank (MCB) Set to Announce Earnings on Thursday

Metropolitan Bank (NYSE:MCB) is scheduled to release its earnings data after the market closes on Thursday, October 17th. Analysts expect Metropolitan Bank to post earnings of $1.51 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). The business had revenue of $121.90 million for the quarter, compared to analysts’ expectations of $68.02 million. Metropolitan Bank had a return on equity of 10.47% and a net margin of 15.22%. During the same period in the prior year, the business posted $1.37 earnings per share. On average, analysts expect Metropolitan Bank to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Metropolitan Bank Stock Up 3.1 %

MCB stock opened at $59.09 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s fifty day simple moving average is $50.68 and its 200-day simple moving average is $45.47. Metropolitan Bank has a 12 month low of $30.52 and a 12 month high of $60.30. The company has a market capitalization of $661.39 million, a P/E ratio of 9.72 and a beta of 1.13.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MCB. Hovde Group began coverage on Metropolitan Bank in a research report on Thursday, September 19th. They set an “outperform” rating and a $65.50 price target on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $67.50 price target (up from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd.

Insider Activity at Metropolitan Bank

In other Metropolitan Bank news, CEO Mark R. Defazio sold 34,986 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $55.34, for a total transaction of $1,936,125.24. Following the completion of the transaction, the chief executive officer now owns 181,208 shares of the company’s stock, valued at $10,028,050.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mark R. Defazio sold 34,986 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $55.34, for a total value of $1,936,125.24. Following the completion of the sale, the chief executive officer now directly owns 181,208 shares in the company, valued at $10,028,050.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $55.14, for a total transaction of $68,925.00. Following the completion of the transaction, the executive vice president now directly owns 31,443 shares in the company, valued at approximately $1,733,767.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,241 shares of company stock valued at $2,060,436. 6.50% of the stock is owned by corporate insiders.

About Metropolitan Bank

Metropolitan Bank Holding Corp. operates as the bank holding company for Metropolitan Commercial Bank that provides a range of business, commercial, and retail banking products and services to small businesses, middle-market enterprises, public entities, and individuals in the New York metropolitan area.